Cool Stuff The NFT market at GameStop is now up for business QouteCoin
New York City: The nonfungible token (NFT) marketplace for the American video game shop GameStop has officially gone live on the Ethereum layer-2 blockchain ImmutableX. This is all part of the gaming company’s most recent effort to promote Web3 technology.
Before launching a public test of the NFT marketplace in July, the two companies originally collaborated together in February to construct the marketplace, which at the time would provide a grant of $100 million to NFT content producers and software developers.
Users will be able to access popular Web3 games on ImmutableX such as the role-playing game Illuvium and Gods Unchained once GameStop’s market announces the complete debut on October 31. This date also marks the beginning of the market’s availability.
Over the course of the last year, GameStop has been hard at work developing a number of Web3-powered products. In May of this year, the company published a beta version of a crypto wallet that interfaces with its NFT marketplace.
Additionally, the company launched its first test NFT marketplace on Loopring in March. Loopring is a layer-2 protocol that is built on Ethereum.
Most recently, in September, GameStop made the announcement that it will be partnering with FTX US to work together on e-commerce and online marketing projects, as well as to attract more consumers to the cryptocurrency industry.
On October 31st, the government of Hong Kong issued a policy statement that described its position on virtual assets as well as its associated pilot projects, one of which featured NFTs. The announcement also provided an overview of the initiatives.
Its NFT-based initiative is a proof-of-concept to encourage the use of NFTs, with the government’s Financial Services and the Treasury Bureau (FSTB) and foreign investment agency InvestHK issuing NFTs during their flagship Hong Kong Fintech Week event. This event takes place every year in November.
In the announcement, it is explained that the NFT is a “digital badge and keepsake utilizing blockchain technology in honor of their participation.” This means that attendees may use it as evidence that they attended the conference.
In addition, the NFT may be used at the event to construct an Augmented Reality (AR) avatar “to experience the Metaverse,” and holders of the token will be eligible for a discount on tickets to the event in 2023.
Even though it is not specified which blockchain the NFTs are created on, users are able to store them either in a cryptocurrency wallet or as what the statement refers to as a “NFT-to-be” by storing it on their email address until they create a digital wallet. Both of these storage options are available to users, despite the fact that the blockchain on which the NFTs are created is not specified.
The first day of Hong Kong Fintech Week was on October 31, and it included presenters from a variety of Web3 companies. These speakers included Yat Siu, co-founder of Animoca Brands, Sam Bankman-Fried, co-founder of FTX, and Sebastien Borget, co-founder of The Sandbox metaverse, amongst others.
Nearly $20.5 million in Ether ETH has been contributed to the NFT project Art Gobblers, which was developed by Justin Roiland, who is also the co-creator of the hit cartoon program Rick and Morty.
An “experimental decentralized art factory” is how the initiative, which is the result of a partnership between Roiland and the venture capital company Paradigm, offers itself to prospective participants.
